How much does school matter?

[dlwktb]

When searching for a job, how much is the school I went to going to matter? My school has a good reputation for being a great engineering and technology school but we have a small math department and no official actuarial degree. There's just an actuarial emphasis area in the math degree. I'm getting a 3.7 btw.

[Dr T Non-Fan]

5%-20%.
Next question.

[dlwktb]

5%-20%.
Next question.

What's the signifigance level on that?

[tommie frazier]

+/- 80%?

[dlwktb]

I guess my real question is... can I swing this to my advantage? I passed the first two exams on my first try coming from a school with little course work directly relating to actuarial sciences... can I use that to say how dedicated I am to becoming an actuary even though my school choice was based on what I wanted to do coming out of high school?

[Dr T Non-Fan]

I guess my real question is... can I swing this to my advantage? I passed the first two exams on my first try coming from a school with little course work directly relating to actuarial sciences... can I use that to say how dedicated I am to becoming an actuary even though my school choice was based on what I wanted to do coming out of high school?
No.
Next question.

[L. Mo]

You don't need an Act Sci degree to be an actuary. Anything related is fine - the top choices are Math (Pure or Applied), Stats, Econ, Finance, Business. The school doesn't really matter, either, but it's helpful if it's one we've heard of.

[Dr T Non-Fan]

What's the significance level on that?

+/- 80%?
Bah, I say to tf. BAH!!

Exams passed are far more important than your school. 60%-75%. GPA is more a dummy variable (higher than some arbitrary figure => 1; otherwise 0), but still more important than school. I'm not sure if anyone's school has swayed a resume-pile-sorter (or "r-p-s") toward the "No" pile. There might be a few specific schools that lean the r-p-s to the "Yes" pile. The "maybe" pile is more complicated.
That said, some interviewers get a slight hard-on when they see their alma mater (or a rival's) on a résumé. Gives them a free talking point and a experiential point of reference. With you, there will be more questions about the school and your experience there in order to formulate a comparison to other candidates.

[KingWithoutACrown]

What if you have a 3.5-4.0 from an online university versus a 2.5-3.0 fairly competitive university?

[plurbin]

School does NOT matter. GPA is not as important either. I am proof of that. Your description of your math program sounds extremely similar to mine, except that there was not even an actuarial emphasis. The college I was in proctored exams 1-4, and I was the only person taking any of these exams when I was there. In working for 3 different companies, it has never come up as an issue.
I have worked with some people who attend a prestigous college and complain that their school doesn't matter more.

[Gareth Keenan]

I guess my real question is... can I swing this to my advantage? I passed the first two exams on my first try coming from a school with little course work directly relating to actuarial sciences... can I use that to say how dedicated I am to becoming an actuary even though my school choice was based on what I wanted to do coming out of high school?

I think your arguement is flawed. I think that I'm an employer I don't give crap where you went to school so long as I've heard of it, or it sounds like decent, accredited 4 year institution.

What I also don't understand is exactly how you taking exams even though you went to engineering school shows your dedication. Your exams show your dedication, I think you are making a stretch linking school decision to actuary dedication, that just doesn't hold water with me.

Good luck anyways, and congratulations on your exams, I think they will be a great start to your actuarial career, wherever you go!

[plurbin]

What if you have a 3.5-4.0 from an online university versus a 2.5-3.0 fairly competitive university?
I haven't looked at the threads about resumes here, but GPA has virtually no factor in considering anybody for an interview. I think the lowest GPA I have seen is a 2.8 for interviewees. If you were less than 2.5, you would have to overcome that with a good interview. Exams are huge, and college activities let us know you aren't a hermit.

[ReddEye]

I have worked with some people who attend a prestigous college and complain that their school doesn't matter more.

Exactly! I know this is flame-bait, but the schools with threads in this forum, in general, are not very prestigous of institutions (based on something like a Kaplan or Princeton Review College guide).

[GosuJohn]

If you were less than 2.5, you would have to overcome that with a good interview. Exams are huge, and college activities let us know you aren't a hermit.

It is possible to get interviews with less than a 2.5 (I got a lot of them). Just be ready to defend yourself everytime a question is asked.

GPA is very important up till about 3.3, then its a wash. GPA is more of a check mark criteria than a oooo he got an A in differential equations 3 type deal.

[JMO]

it's helpful if it's one we've heard of.
Although not heard of, as in University of Phoenix. Just sayin' ;)

[actexp]

I guess my real question is... can I swing this to my advantage? I passed the first two exams on my first try coming from a school with little course work directly relating to actuarial sciences... can I use that to say how dedicated I am to becoming an actuary even though my school choice was based on what I wanted to do coming out of high school?

You're fine. Exams (especially) and grades count far more. Math major is fine, only if you were english lit or something like that would anyone even take notice. If you went to an offshore diploma mill there might be a problem, but that not the case. Fact you took 2 exams and passed shows appropriate interest, now it more important you can speak a bit to the occupation and also insurance industry and stuff like that when you get interviews.

[mlschop]

GPA is very important up till about 3.3, then its a wash. GPA is more of a check mark criteria than a oooo he got an A in differential equations 3 type deal.

The only time I ever saw GPA requirements for a position was for large insurance (P&C and Life) companies. Small companies and consulting firms did not appear to care as much. (this is from an interview sample size of about 5 :-p).

[Lucy]

Every company is different. Mine explicitly factors in the "competativeness" of a school in weeding through entry-level resumes. We also have cut-offs for gpa, which vary based on how tough we think the school is. (I think we rely on the US News list or something.)

On the bright side, we don't care a hoot whether your school has an actuarial program or not. So long as you have a degree in something relevant (as listed above) or took enough courses to convince us you have some ability in those topics, you're fine.

[a5chen]

Working for a consulting firm and having to weed through the candidates that can't effectively communicate in English, an English Lit major with 2 exams would pop right to the top of my list. :tup:

[Mr. Penguin]

News flash: The vast majority of credentialed actuaries do not have actuarial science degrees. And at least on the CAS side, many interviewers and hiring managers prefer those without actuarial science degrees to those with.

[Maine-iac]

There are a few companies, such as Lucy's, that will give extra points for a "competitive" school. Waterloo always looks good on a resume.

But in general, the school you went to doesn't have much weight. Far less than other educated professions, mainly because exams trump all for actuaries.

[KingWithoutACrown]

Here here. Say you want to get into business consulting as an undergrad? To get an interview, you can't prove yourself with exams because there are none. The only way they can seperate you from the competition is by reputation of school attended and if you have high GPA/graduated with honors. With entry-level business consulting, generally, and perhaps unfortunately, this is the case. My guess is that in the actuarial field, passed exams are the best indicator of whether or not you'll thrive in the profession.

[Maine-iac]

Well, let's say exams are a necessary, but not a sufficient condition, for actuarial success. ;)

[tommie frazier]

so we should still question the potential success of a person who has, say, both an FSA and an FCAS?

[JMO]

so we should still question the potential success of a person who has, say, both an FSA and an FCAS?
Unless we have actual success to judge by. ;)